
************************************************************************************************************
**#							TABLE 6 - FIRM RESPONSE AND EMPLOYEE OUTCOMES
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capture cd "/Users/joshw/CEO Pay Ratio/Analysis/"
use "Data/Temp/dataset_main.dta", clear

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*Panel A: Change in Pay Rating
******************************
est clear
eststo: reghdfe gd_pay_diff_365 pr_quint_5 pr_quint_1 ln_words gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)        
eststo: reghdfe gd_pay_diff_365 pr_quint_5 pr_quint_1 spin_num gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
eststo: reghdfe gd_pay_diff_365 pr_quint_5 pr_quint_1 explain_num gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
eststo: reghdfe gd_pay_diff_365 pr_quint_5 pr_quint_1 suppl_num gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
eststo: reghdfe gd_pay_diff_365 pr_quint_5 pr_quint_1 tout_num gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
esttab using "Output/Tables/RF/T6_firm_payrating.csv", b(3) ar2 varwidth(25) title("Disclosure and Pay Rating") order(ln_words spin_num explain_num suppl_num tout_num pr_quint_5 pr_quint_1 gd_pay_pre_365 size mtb roa io cash lev salesg_w tsr union rd) star(* 0.10 ** 0.05  *** 0.01 ) drop( _cons) replace

********************************
*Panel B: Change in Productivity
********************************
est clear
eststo: reghdfe ln_prod_diff pr_quint_5 pr_quint_1 ln_words ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets, absorb(indyr)
eststo: reghdfe ln_prod_diff pr_quint_5 pr_quint_1 spin_num ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets, absorb(indyr)
eststo: reghdfe ln_prod_diff pr_quint_5 pr_quint_1 explain_num ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets, absorb(indyr)
eststo: reghdfe ln_prod_diff pr_quint_5 pr_quint_1 suppl_num ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets, absorb(indyr)
eststo: reghdfe ln_prod_diff pr_quint_5 pr_quint_1 tout_num ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets, absorb(indyr)
esttab using "Output/Tables/RF/T6_firm_prod.csv", b(3) ar2 varwidth(25) title("Disclosure and Productivity") order(ln_words spin_num explain_num suppl_num tout_num pr_quint_5 pr_quint_1 ln_prod_pre_365 size mtb roa io cash lev salesg_w tsr union rd fixed_assets) star(* 0.10 ** 0.05  *** 0.01 ) drop(  _cons) replace

***********************************
*Panel C: Change in CEO Disapproval
***********************************
est clear
eststo: reghdfe gd_ceodis_diff_365 pr_quint_5 pr_quint_1 ln_words gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
eststo: reghdfe gd_ceodis_diff_365 pr_quint_5 pr_quint_1 spin_num gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
eststo: reghdfe gd_ceodis_diff_365 pr_quint_5 pr_quint_1 explain_num gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
eststo: reghdfe gd_ceodis_diff_365 pr_quint_5 pr_quint_1 suppl_num gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
eststo: reghdfe gd_ceodis_diff_365 pr_quint_5 pr_quint_1 tout_num gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd, absorb(indyr)
esttab using "Output/Tables/RF/T6_firm_ceodis.csv", b(3) ar2 varwidth(25) title("Disclosure and CEO Disapproval") order(ln_words spin_num explain_num suppl_num tout_num pr_quint_5 pr_quint_1 gd_ceodis_pre_365 size mtb roa io cash lev salesg_w tsr union rd) star(* 0.10 ** 0.05  *** 0.01 ) drop( _cons) replace
